Your Localized Market Report

Phoenix, AZ 85024

Single-Family Homes

Lawyers Title Arizona | www.LawyersTitleArizona.com | 602.257.2600



Phoenix, AZ 85024

Sat Dec 03 2022
This week the median list price for Phoenix, AZ 85024 is $535,000 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has decreased to 59. Click here to stay informed with the Phoenix market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Phoenix, AZ 85024

Sat Dec 03 2022
This week the median list price for Phoenix, AZ 85024 is $535,000 with the market action index hovering around 42. This is about the same as last month's market action index of 42. Inventory has decreased to 59. Click here to stay informed with the Phoenix market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Seller's Advantage

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Phoenix market.
Median List Price $535,000
Median Price of New Listings $685,000
Per Square Foot $297
Average Days on Market 68
Median Days on Market 49
Price Decreased 75%
Price Increased 0%
Relisted 5%
Inventory 59
Median Rent
Market Action 42
Slight Seller's Advantage

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$750,000 2,562 6,500 - 8,000 sqft 4 3 16 2 0 42
$589,900 2,140 6,500 - 8,000 sqft 4 2.5 24 0 1 49
$500,000 1,690 6,500 - 8,000 sqft 3 2 26 0 3 56
$409,000 1,331 4,500 - 6,500 sqft 3 2 37 0 2 56